National Flood Insurance Program (NFIP)
A federally funded program established in 1968 to make flood insurance available
at a reasonable cost for properties located in participating communities. NFIP
flood insurance is available only for direct damage to buildings and contents;
there is no time element coverage.
See also: all risks coverage,
causes of loss forms,
commercial property policy,
flood coverage,
flood exclusion,
named perils coverage,
property insurance.
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